Get social, sell songs, labels told

Digital music sales seem set to account for 25.5 per cent of global recorded music sales this year, climbing to grab 39.4 per cent of the market in 2009.
eMarketer’s latest report offers its worldwide recorded music spending forecasts for the next three years. It’s a little gloomy – driven mainly by the continued decline in physical format sales, spending is expected to decline from $27.9 billion this year to $27.2 billion in 2009, and $26.6 billion in 2010, though the analysts expect music spending to stabilise by 2011. However but 2010, digital sales will account for 48.5 per cent of sales in 2010, and an astonishing 56.5 per cent in 2011.
The researchers don’t think the industry is doing enough to capitalise on changing music consumption patterns, pointing out: “Music fans are longing for communities that offer a unique music experience and a mobile music platform that gives fans of its music events the opportunity to be involved online,” as such, the research urges music companies to look to ways to combine online, mobile and user-generated platforms (such as blogs) into compelling forces to stimulate sales.

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